I noticed that eur/gbp would be a good pair to trade using MA's because not as choppy as some other pairs. Anyone trade this pair? What are some characteristsics of it? Any other non-choppy pairs recommended?
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Disliked{quote} Hi There How do you know which "one" to buy or sell? is it the stronger currency that leads? (as in percentage gains)Ignored
DislikedIn some ways you are right, you don't know. But the big money on the gbpusd and eurgbp comes in within seconds of each other in the opposite directions. London session 8am to 14.00pm - dollar takes over as New York opens sometimes. I think a lot of professional traders look at these pairs and trade them together as opposites. Therefore you may trade eurgbp, use gbpusd for confirmation. The other way to do it, if gbpusd is going up and eurgbp isn't moving - I would suggest it wants to move up when gbpusd has a pull back. I only look for 30 points...Ignored
Disliked{image} I would look at volume candles - just counts transactions per candle. If I was trading today these candles - were arrows are would be interesting to me. 0% MAKES ME MORE CAUTIOUS. sma's on the 15 minute, 1 hour and 4 hour gives me direction. this type of trading is exhausting - 8AM TO 14.00 PM is the maximum I would do. tend to use tma's for exists. There plenty of people trading these on the forum, I tend to trade into them - i think its easier. My personal view - I'm more confident looking at two charts rather than just one. I'm not looking...Ignored
DislikedI do think you can get blinded by the amount of information. But i was getting sick of 4 break evens and one win - hence using volume candles to try and understand were the volumes are coming in. Also this interests me from the point of view of other traders, 8am - 12pm - 4pm - 4 hour candles normally increases volumes and traders try to position themselves around these times with the hope of 30 to 40 pip run. 80% of the time markets are ranging or moving back to the Asian session and 20% of the time they have a price run. - the gbpusd is all about...Ignored
DislikedI see an uptrend on the H4 chart. Price created a gap from the major resistance of the uptrend to only create a retracement indicated by the double bottom chart pattern in the M15 chart to price are of 0.91434 where we can put a wave A. Selling opportunities can be looked at price area 0.91343 as this is a major Horizontal resistance level which will probably cause a confluence to direct prices down at this B wave. {image}Ignored